1. Help the children understand the value of money and how to use the moneyresponsibly.
2. The money parents give help the children learn to manage money, and theycan understand how budgeting, saving and interest work. In this way, they candevelop wise spending habits.
3. It helps raise a money-savvy child.
4. Cultivate a spirit of independence and learning to make decision onone’s own.
5. Such goal-setting helps children learn to become responsible forthemselves.
6. Children are willing learners, and you will find by giving pocket money,you can get them very interested in whole process of building a healthy savingfor the future.
7. Young children especially enjoy watching the money build up in theirpiggy banks, and they love to take it out and count it. This is a greatopportunity to teach your child the different denominations in our currency ,and what each coin and bill is worth.
8. It is the beast way to introduce your child to the concept of saving.